CHICAGO HEIGHTS, Ill. - Worldwide holographic and specialty coated film manufacturer CFC International, Inc., has entered into a definitive agreement to be acquired by an affiliate of Illinois Tool Works Inc. The price represents a premium of approximately 48% over the closing price as of June 19, 2006, for CFC's stock.
Under the terms of the agreement, which was recommended by a special committee comprised entirely of inde-pendent directors of CFC and unani-mously approved by CFC's board ofdirectors, ITW, through a subsidiary, will acquire all outstanding shares of common stock of CFC for $16.75 per share. The transaction is expected toclose in the third quarter of 2006.